Draganfly (NASDAQ:DPRO) Shares Down 9.2% - Should You Sell?

Key Points

• Draganfly Inc. shares fell by 9.2% to $12.01 after trading as low as $11.51, with an increased trading volume of 8,689,260 shares.
• Analysts have a consensus Buy rating for Draganfly, with a price target of $14.00.
• In its last earnings report, Draganfly posted an EPS of ($0.44), surpassing expectations but reporting revenues of $1.55 million, below the anticipated $2.24 million.

Draganfly Inc. (NASDAQ:DPRO - Get Free Report) traded down 9.2% on Friday . The company traded as low as $11.51 and last traded at $12.01. 8,689,260 shares traded hands during trading, an increase of 279% from the average session volume of 2,294,166 shares. The stock had previously closed at $13.22.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. HC Wainwright set a $14.00 price target on shares of Draganfly and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen raised shares of Draganfly from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Draganfly currently has a consensus rating of "Buy" and a consensus target price of $14.00.

Draganfly Stock Down 9.2%

The firm's 50-day simple moving average is $5.87 and its 200 day simple moving average is $3.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.80 and a current ratio of 5.29. The stock has a market capitalization of $65.21 million, a P/E ratio of -7.02 and a beta of 2.58.

Draganfly (NASDAQ:DPRO - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.02. Draganfly had a negative net margin of 181.76% and a negative return on equity of 197.71%. The firm had revenue of $1.55 million for the quarter, compared to analysts' expectations of $2.24 million. As a group, research analysts expect that Draganfly Inc. will post -3.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. DNB Asset Management AS acquired a new position in Draganfly in the 2nd quarter valued at about $340,000. Kieckhefer Group LLC grew its stake in Draganfly by 69.1% in the 2nd quarter. Kieckhefer Group LLC now owns 200,657 shares of the company's stock valued at $636,000 after buying an additional 82,000 shares during the last quarter. XTX Topco Ltd acquired a new position in Draganfly in the 2nd quarter valued at about $65,000. Finally, Jane Street Group LLC acquired a new position in Draganfly in the 2nd quarter valued at about $35,000. 10.39% of the stock is currently owned by institutional investors and hedge funds.

About Draganfly

Draganfly Inc develops, manufactures, and sells cutting-edge unmanned and remote data collection and analysis platforms and systems in the United States and Canada. The company offers quadcopters, fixed-wing aircraft, ground-based robots, handheld controllers, and flight training, as well as software used for tracking, live streaming, and data collection.

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